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US Farmers Borrow More as Input Costs Rise
U.S. farmers have taken on additional debt as input costs rise. Some borrowers are falling behind on repayments. The changes coincide with higher expenses linked to the Iran war.
May 25, 1:44 PM·1m read1 source
montrealgazette.comAudio version
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American farmers have increased their borrowing in recent months while some are having difficulty meeting repayment schedules. Higher costs for fuel, fertilizer, and other inputs have contributed to the added debt load. The Iran war has been cited as a factor behind those price increases.
Lenders have reported a rise in past-due accounts among agricultural borrowers. Data on total farm debt levels have not yet been released for the current quarter.
Banking officials tracking agricultural portfolios said delinquency rates have moved higher than in the prior period. They did not provide specific percentage figures. Farmers have used new loans to cover operating expenses that exceed revenue from recent harvests. No federal assistance programs were mentioned in the reporting.
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